Adjusted Asset Value means, as of a given date, the sum of EBITDA attributable to malls, power centers and all other assets for the trailing four (4) quarters most recently ended, divided by (iii) 7.75%. In determining Adjusted Asset Value:
Adjusted Asset Value means in respect of any Borrowing Base Eligible Asset an amount equal to the product of (i) the Asset Value of such Borrowing Base Eligible Asset, and (ii) the applicable Advance Rate for such Borrowing Base Eligible Asset.
Adjusted Asset Value with respect to any asset shall be the asset’s adjusted basis for federal income tax purposes, except as follows:
Examples of Adjusted Asset Value in a sentence
The Deemed Loss from any in kind distribution of Securities shall be equal to the excess, if any, of the aggregate Adjusted Asset Value of the Securities distributed over the fair market value of the Securities distributed (valued in accordance with paragraph 11.2).
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Borrower shall not permit, as of any date of calculation, the ratio of Total Liabilities to Total Adjusted Asset Value to exceed sixty percent (60%).
Additionally, for the purposes of calculating Consolidated Operating Cash Flow under this §9.2, Operating Cash Flow attributable to any Redevelopment Property shall be included even if such Redevelopment Property is then being valued at cost for the purposes of calculating Borrower’s Consolidated Total Adjusted Asset Value.
As at the end of any fiscal quarter, Secured Consolidated Total Indebtedness shall not exceed 55% of Consolidated Total Adjusted Asset Value on the last day of such quarter.
More Definitions of Adjusted Asset Value
Adjusted Asset Value means, with respect to any asset of the Company, such adjusted basis of such asset for federal income tax purposes, except as follows:
Adjusted Asset Value means, as of a given date, the sum of: (a)(i) EBITDA attributable to malls and power centers for the fiscal quarter most recently ended times (ii) 4; divided by (iii) 8.25% plus (b)(i) EBITDA attributable to all other assets for the fiscal quarter most recently ended times (ii) 4; divided by (iii) 9.25%. In determining Adjusted Asset Value (i) EBITDA attributable to real estate properties acquired during such fiscal quarter, and EBITDA attributable to Properties development of which was completed during such fiscal quarter, shall be disregarded, (ii) EBITDA attributable to any Property which is currently under development shall be excluded, (iii) with respect to any Subsidiary that is not a Wholly Owned Subsidiary, only the Borrower's Ownership Share of the EBITDA attributable to such Subsidiary shall be used when determining Adjusted Asset Value, and (iv) EBITDA shall be attributed to malls and power centers based on the ratio of (x) revenues less property operating expenses (to be determined exclusive of interest expense, depreciation and general and administrative expenses) of malls and power centers to (y) total revenues less total property operating expenses (similarly determined), such revenues and expenses to be determined on a quarterly basis in a manner consistent with the Parent's method of reporting of segment information in the notes to its financial statements for the fiscal quarter ended September 30, 2004 as filed with the Securities and Exchange Commission, and otherwise in a manner reasonably acceptable to the Bank. In addition, in the case of any operating Property acquired in the immediately preceding period of eighteen (18) consecutive months for a purchase price indicative of a capitalization rate of less than 8.25%, EBITDA attributable to such Property shall be excluded from the determination of Adjusted Asset Value.
Adjusted Asset Value means Total Asset Value determined exclusive of assets that are owned by Excluded Subsidiaries or Unconsolidated Affiliates.
Adjusted Asset Value means, with respect to any Person or Property, (i) for any Property (other than Unimproved Assets, Raw Land or Military Housing) for which an acquisition or disposition has not occurred in the Fiscal Quarter most recently ended by the Borrower, EQR and their Consolidated Subsidiaries or Investment Affiliates, the product of four (4) and a fraction, the numerator of which is EBITDA for such Fiscal Quarter attributable to any such Property owned or leased by the Borrower, EQR or any such Consolidated Subsidiary, or in the case of any such Property owned by an Investment Affiliate, the Borrower's Share of EBITDA, in a manner reasonably acceptable to Administrative Agent for the Fiscal Quarter most recently ended, and the denominator of which is the FMV Cap Rate, plus (ii) for any Property which has been acquired by the Borrower, EQR and their Consolidated Subsidiaries or Investment Affiliates in the Fiscal Quarter most recently ended, the Net Price of the Property paid by Borrower, EQR or the Consolidated Subsidiary, or the Borrower's or EQR's pro rata share of the Net Price of the Property paid by the Investment Affiliate for such Property, plus (iii) the value of any Military Housing investments made by the Borrower, EQR or their Consolidated Subsidiaries, measured on a cost basis, plus (iv) the Borrower's share of the value of any Military Housing investments held by an Investment Affiliate, as measured on a cost basis, plus (v) the value of any Unimproved Assets owned by the Borrower, EQR and their Consolidated Subsidiaries, as measured as the lower of (A) the Net Price of such Unimproved Assets paid by the Borrower, EQR and their Consolidated Subsidiaries or (B) the current market value thereof (such market value to be determined by the Borrower in a manner reasonably acceptable to the Administrative Agent), plus (vi) Borrower's Share of the value of any Unimproved Assets owned by an Investment Affiliate, as measured as the lower of (A) the Net Price of such Unimproved Assets paid by the Investment Affiliate or (B) the current market value thereof (such market value to be determined by the Borrower in a manner reasonably acceptable to the Administrative Agent), (vii) the value of any Raw Land owned by the Borrower, EQR and their Consolidated Subsidiaries, as measured as the lower of (A) the Net Price of such Raw Land paid by the Borrower, EQR and their Consolidated Subsidiaries or (B) the current market value thereof (such market value to be determined b...
Adjusted Asset Value means, as of any date of determination, (i) for any Property for which an acquisition or disposition by Borrower or any Subsidiary has not occurred in the Fiscal Quarter most recently ended as of such date, the product of four (4) and a fraction, the numerator of which is EBITDA for such Fiscal Quarter attributable to such Property in a manner reasonably acceptable to Agent, and the denominator of which is eight hundred seventy-five ten-thousandths (0.0875), and (ii) for any Property which has been acquired by Borrower or any Subsidiary in the Fiscal Quarter most recently ended as of such date, the Net Price of the Property paid by Borrower or such Subsidiary for such Property.
Adjusted Asset Value means, on any date of determination, with respect to any Storage Property owned in fee simple or leased by the Borrower or any of its Subsidiaries an amount equal to (a) the Net Operating Income of such Storage Property for the four full fiscal quarters of the Parent most recently ended for which financial statements are available divided by (b) the Capitalization Rate.
Adjusted Asset Value means, as of a given date, (a) EBITDA for Borrower's fiscal quarter most recently ended multiplied by (b) 4 and divided by (c) the Capitalization Rate. For purposes of determining Adjusted Asset Value, EBITDA shall be adjusted by the Agent in its reasonable discretion to take into account acquisitions and dispositions of property by Borrower and shall exclude any EBITDA from property not owned by Borrower for the entire fiscal quarter most recently ended or upon which construction was in progress at the end of the fiscal quarter most recently ended.